Leverage the equity in your business or investment property with one of the following line of credit options. Our Advancing Term Line of Credit (ATLOC) has a 24 month draw period for large and/or multiple purchases such as real estate/vehicle/large equipment/capital assets, property improvement, and business expansion. The total balance then converts at month 25 to a Prime-based variable loan with a 25 year amortization schedule due in 10 years. The Working Capital Line of Credit (WCLOC) is used predominantly for true working capital or as an ongoing source of funds for property maintenance and/or improvements. This line of credit is subject to account review every five years. Take advantage of high line sizes, competitive rates and no up-front costs today.
|Ideal For||Business owners and real estate investors who want to borrow against the equity in their property for large business expenditures.|
|How it Works|
|Does it work for you?||Visit a Wells Fargo location near you.|
|Interest Rates||Variable rate tied to Prime Rate.|
|Fees||Applies to both ATLOC and WCLOC unless otherwise noted.|
|For More Information|
|How to Apply|
1 Most property types are eligible. Environmentally sensitive properties may require an environmental loan insurance policy. Property located in a flood zone may require flood insurance. These expenses if applicable, are the borrowers responsibility. Collateral properties located in rural areas may not be eligible for this offer. Certain residential properties are not eligible. Please contact us for details. Note on Texas properties: Commercial property owners having a personal residence situated on, or adjacent to, the collateral property are not eligible for this offer.
2 A non-refundable deposit is due upon acceptance of terms, and will be applied at closing to the origination fee. The tiered deposit structure is $500 for lines up to and including $250,000, and $1,000 for lines above $250,000. Borrower is responsible for all state imposed fees and taxes, in addition to any legal fees.